laffwitmi:
Bad news for wailers...

You guys will wail till 2023

Bad news for all of us. We cannot rely on oil forever.

So, forget this wailer things.

9jakohai:
1. Bad news in that it would make us oil dependent again

2.Due to oil falling from $100 in 2014 to $29 in 2016...we lost $100bn in potential earnings.That meant we have to take on debts to keep afloat....so even with this rise, we still have to pay up EXISTING DEBTS...which wipes out most gains from the rise.

3.Nigeria needs oil at $123 per barrel to balance the books. For Russia it is $99, $76 for Saudi Arabia.

4.We need to become a manufacturing society.....because oil prices are still gonna fall, and keep falling.

5. PMB should focus on fixing power, rail and roads...and forget about oil. Who Oil epp?

u get sense aswear

Money2000:
Nonsense post. But things get expensive every day.

I hate Buhari

God and kill yourself
Go and kill yourself

rozayx5:


Op it is no good news


Not with goat in aso rock

And his team of misfits

Even if oil reaches 500$ a barrel we won't service buharis loans in 10 years

..bro...remember some other people are reading this.. So..argue with facts not sentiment. How much has he borrowed compared to the last dispensation. GEJ THAT WAS BORROWING TO PAY SALARY WHEN EVEN A BARREL OF OIL WAS 126USD.

Our government is not being sincere to us. The budget for 2017 was set on crude oil price of $44 per barrel but now the market price is $60 per barrel. Which means more revenue for Nigeria as there is no news that we have failed to reach optimal oil production and supply.
Now where is the excess of $16 per barrel kept. We shouldn't be suffering in Nigeria as we are the largest producer of oil in Africa. It is no doubt that we are over populated and perhaps the resources may not go round, but that is why we voted in this present government to manage our shortcomings and turn things around.
I guess we voted for the wrong people.

I regret voting and campaigning for buhari in 2015.

It just means more money for political office holders and NNPC top directors to steal. [url=afriaskmen.info/penile-enlargement] [/url]

Please, how can I write a post on Nairaland and for the post to be on front page......

Stop lying... you did NOT vote Buhari... [url=afriaskmen.info/penile-enlargement] [/url]

Magnifico2000:
Our government is not being sincere to us. The budget for 2017 was set on crude oil price of $44 per barrel but now the market price is $60 per barrel. Which means more revenue for Nigeria as there is no news that we have failed to reach optimal oil production and supply.
Now where is the excess of $16 per barrel kept. We shouldn't be suffering in Nigeria as we are the largest producer of oil in Africa. It is no doubt that we are over populated and perhaps the resources may not go round, but that is why we voted in this present government to manage our shortcomings and turn things around.
I guess we voted for the wrong people.

I regret voting and campaigning for buhari in 2015.

rozayx5:


Even if oil reaches 500$ a barrel we won't service buharis loans in 10 years

Between 2014-16 oil fell from $120 to $29.

That meant we lost revenues in excess of $100bn dollars.

Taking loans becomes a necessary evil.Of course we had to take them.......GEJ was already seeing the writing on the wall...and taking loans as early as 2013.

If we did not...we would have been eating leaves by now (and no, i am not being sarcastic)

Of course...if we left oil alone, and relied on manufacturing and innovation.....we could be the one giving loans.

That is why some of us don't get why you, and your hausa, igbo , yoruba and SS buddies fight over oil. Manufacturing could earn you much more.

NubiLove:
Stop lying... you did NOT vote Buhari...

I voted. You dont need to call me a liar as you havent seen or heard me speak before. Aren't you tired of situation of things in Nigeria?

At least 18 hours per day of electricity is NEEDED in manufacturing districts! This is the reason why Dunlop moved to Ghana.

9jakohai:


Between 2014-16 oil fell from $120 to $29.

That meant we lost revenues in excess of $100bn dollars.

Taking loans becomes a necessary evil.Of course we had to take them.......GEJ was already seeing the writing on the wall...and taking loans as early as 2013.

If we did not...we would have been eating leaves by now (and no, i am not being sarcastic)

Of course...if we left oil alone, and relied on manufacturing and innovation.....we could be the one giving loans.

That is why some of us don't get why you, and your hausa, igbo , yoruba and SS buddies fight over oil. Manufacturing could earn you much more.

NOPE... you did NOT vote for Buhari...

Magnifico2000:

I voted. You dont need to call me a liar as you havent seen or heard me speak before. Aren't you tired of situation of things in Nigeria?

9jakohai:
1. Bad news in that it would make us oil dependent again

2.Due to oil falling from $100 in 2014 to $29 in 2016...we lost $100bn in potential earnings.That meant we have to take on debts to keep afloat....so even with this rise, we still have to pay up EXISTING DEBTS...which wipes out most gains from the rise.

3.Nigeria needs oil at $123 per barrel to balance the books. For Russia it is $99, $76 for Saudi Arabia.

4.We need to become a manufacturing society.....because oil prices are still gonna fall, and keep falling.

5. PMB should focus on fixing power, rail and roads...and forget about oil. Who Oil epp?

so how are we going to pay for the power lines road and rails

SWORD419:
u get sense aswear

I had my mind changed...NO reset... by one article i read in 2011

http://www.nytimes.com/2012/03/11/opinion/sunday/friedman-pass-the-books-hold-the-oil.html

And that answered a lot of questions for me.

African countries are poor because we sell our raw materials to Europe and Asia for a few billions, and the same Europeans and Asians use the raw materials to make products that earn them ten times more.

Skykid1208:
Please, how can I write a post on Nairaland and for the post to be on front page......

Look for snakes and other wild animals. Kill them or preserve them, take pictures of it then shout lalasticlala and see if you wont make frontpage in 1second.

Thank me later.

NubiLove:
NOPE... you did NOT vote for Buhari...

Why im i wasting my time replying u?

princeadams11:

God and kill yourself
Go and kill yourself

You're a definition of a typical fool. *God and kill yourself* really?

I'm unlike you who already planned to commit suicide.
End your miserable life.

Proudlyngwa:


so how are we going to pay for the power lines road and rails

We may have to take loans for that, and cut subsidies, and increase fees/power bills/taxes.

It means ten years or more of really harsh conditions....but once the benefits kick in....we become a strong manufacturing society. .....i hope.

A shortcut for power...deregulate the thing thoroughly....make bill collection secure...and watch as investors flow in. (Hey, it worked for GSM)

9jakohai:
1. Bad news in that it would make us oil dependent again

2.Due to oil falling from $100 in 2014 to $29 in 2016...we lost $100bn in potential earnings.That meant we have to take on debts to keep afloat....so even with this rise, we still have to pay up EXISTING DEBTS...which wipes out most gains from the rise.

3.Nigeria needs oil at $123 per barrel to balance the books. For Russia it is $99, $76 for Saudi Arabia.

4.We need to become a manufacturing society.....because oil prices are still gonna fall, and keep falling.

5. PMB should focus on fixing power, rail and roads...and forget about oil. Who Oil epp?

except that buhari is still looking for oil in nasarawa.

APC will say na Buhari do this one too. . .
Lolz

Proudlyngwa:


so how are we going to pay for the power lines road and rails

the ones they have borrowed nko? Or the ones they recovered from "looters"

And they are still selling oil aint they?

9jakohai:


We may have to take loans for that, and cut subsidies, and increase fees/power bills/taxes.

It means ten years or more of really harsh conditions....but once the benefits kick in....we become a strong manufacturing society. .....i hope.

A shortcut for power...deregulate the thing thoroughly....make bill collection secure...and watch as investors flow in. (Hey, it worked for GSM)

so what happens to proceeds from oil sales

Still ordinary man in the street won't feel it...nonsense

EvilMetahuman:
the ones they have borrowed nko? Or the ones they recovered from "looters"

And they are still selling oil aint they?

Incase you have not noticed,things have started normalizing .
I don't know about your end,but where I stay things are becoming cheaper.

9jakohai:
1. Bad news in that it would make us oil dependent again

2.Due to oil falling from $100 in 2014 to $29 in 2016...we lost $100bn in potential earnings.That meant we have to take on debts to keep afloat....so even with this rise, we still have to pay up EXISTING DEBTS...which wipes out most gains from the rise.

3.Nigeria needs oil at $123 per barrel to balance the books. For Russia it is $99, $76 for Saudi Arabia.

4.We need to become a manufacturing society.....because oil prices are still gonna fall, and keep falling.

5. PMB should focus on fixing power, rail and roads...and forget about oil. Who Oil epp?

He has spent a good chunk of time exploring for oil in the north. His action and words contradict.

Proudlyngwa:


Incase you have not noticed,things have started normalizing .
I don't know about your end,but where I stay things are becoming cheaper.

that doesn't answer my question.

Well you said at your end, but still remain the same here.
Anyway, until things move back to atleast pre 2015 or lower than that. Apc failed woefully. Especially dollars and the price of petroleum.

Money2000:

You this APC coward... We will see what ends you and your so called Buhari.
My eyes r on you.

Oya continue watching me na. Sebi I resemble your tv.

9jakohai:


Between 2014-16 oil fell from $120 to $29.

That meant we lost revenues in excess of $100bn dollars.

Taking loans becomes a necessary evil.Of course we had to take them.......GEJ was already seeing the writing on the wall...and taking loans as early as 2013.

If we did not...we would have been eating leaves by now (and no, i am not being sarcastic)

Of course...if we left oil alone, and relied on manufacturing and innovation.....we could be the one giving loans.

That is why some of us don't get why you, and your hausa, igbo , yoruba and SS buddies fight over oil. Manufacturing could earn you much more.

What we need is rapid diversification while still managing the oil sector

EvilMetahuman:
that doesn't answer my question.

Well you said at your end, but still remain the same here.
Anyway, until things move back to atleast pre 2015 or lower than that. Apc failed woefully. Especially dollars and the price of petroleum.

Why didn't you say till things move back to pre1999 era.
Lower the dollar and watch all the gains made in manufacturing and agriculture disappear .
Unfortunately petroleum products is dependent on dollar rate.


We need to learn how to start making sacrifices .Nothing comes easy.

even if crude oil rise to $200 per barrel APC will still complain.

Magnifico2000:
Our government is not being sincere to us. The budget for 2017 was set on crude oil price of $44 per barrel but now the market price is $60 per barrel. Which means more revenue for Nigeria as there is no news that we have failed to reach optimal oil production and supply.
Now where is the excess of $16 per barrel kept. We shouldn't be suffering in Nigeria as we are the largest producer of oil in Africa. It is no doubt that we are over populated and perhaps the resources may not go round, but that is why we voted in this present government to manage our shortcomings and turn things around.
I guess we voted for the wrong people.

I regret voting and campaigning for buhari in 2015.

Please consult google and read extensively on what ECA (Excess crude-oil Account) stands for.

Yhat status where a comment from you is enough to raise global oil price.